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The latest announcement is out from Tesco plc ( (GB:TSCO) ).
Tesco PLC announced the purchase of 2,283,044 of its ordinary shares as part of its £1.45 billion share buyback program, with the shares being subsequently cancelled. This move, executed with Citigroup Global Markets Limited as the broker, reduces the total number of shares in circulation to 6,404,757,503 and reflects Tesco’s ongoing strategy to enhance shareholder value through capital returns.
The most recent analyst rating on (GB:TSCO) stock is a Buy with a £507.00 price target. To see the full list of analyst forecasts on Tesco plc stock, see the GB:TSCO Stock Forecast page.
Spark’s Take on GB:TSCO Stock
According to Spark, TipRanks’ AI Analyst, GB:TSCO is a Outperform.
Tesco plc’s overall stock score reflects a stable financial performance with some challenges in revenue growth and cash flow. The technical analysis suggests a positive momentum, and the valuation is fair. The earnings call provided a positive outlook with raised profit guidance, and the significant share buyback program enhances shareholder value.
To see Spark’s full report on GB:TSCO stock, click here.
More about Tesco plc
Tesco PLC is a leading multinational retail company primarily engaged in the grocery and general merchandise sectors. It operates a chain of supermarkets and hypermarkets, focusing on providing a wide range of products to consumers in the UK and internationally.
Average Trading Volume: 15,719,071
Technical Sentiment Signal: Buy
Current Market Cap: £28.07B
Learn more about TSCO stock on TipRanks’ Stock Analysis page.